THE OFFERING PORTFOLIO SUMMARY BlueGate Partners, LLC has been retained on an exclusive basis to THE GEORGE SKYLINE TOWER TOTAL arrange the sale of The George and Skyline Tower, two distinct and dis - Address 285 George St. 60 Paterson St. tinguished high-rise residential buildings with a total of 174 apart - ments in the heart of downtown New Brunswick, New Jersey Year Built 2013 2003 (collectively, the “Properties”). Both Properties are located a short walk Height 14 stories 13 Stories from New Jersey Transit’s (“NJT”) New Brunswick train station with di - Units 104 70 174 rect service to Manhattan; Rutgers University and its nearly 50,000 stu - Affordable % 20% 20% 20% dents and faculty; the global headquarters of Johnson & Johnson and RSF 82,056 65,706 147,762 all of the eclectic retail and dining options of downtown New Current Occupancy (1) 94.2% 97.1% 96.0% Brunswick. Consisting of one- and two- bedroom units along with 2,935 square feet of retail space, the Properties also include numerous (1) Occupancy reported as of April 2015 amenities to enhance resident’s lifestyles. The transit-oriented, urban- Exclusively infill location of the Properties affords residents tremendous access to Offered By New Brunswick and its surrounding areas, as well as the country’s largest metropolitan area, New York City, in less than one hour. CORE CLASS-A LUXURY PRODUCT STRONG VALUE-ADD CANDIDATE Delivered in 2013, the George is one of the newest Class A luxury Located two blocks south of the NJT train station, Skyline Tower multifamily properties to be delivered in Downtown New presents a unique opportunity to invest in a transit-oriented, Brunswick. The modern design and up-scale finishes include urban-infill community with the ability to meaningfully increase stainless-steel appliances, granite countertops, ceramic tile rents. Skyline Tower was developed in 2003 and contains 70 luxury backsplashes and both wood and tile flooring alongside an in- apartments. New ownership should look to upgrade kitchen, bath - unit washer and dryer. The community includes a state-of-the- room and living area finishes in order to achieve the rent levels of art fitness center, a fashionable lobby and resident library and comparable properties in the submarket. Current ownership has access to New Brunswick’s NJT train station only five blocks begun to prove out this concept as they have upgraded three units away. at the property and have achieved rent premiums of approxi - mately $275 per month.
Irvington
Great Swamp Summit National Wildlife Basking Refuge Lord Ridge Stirling 78 206 Park Baltusrol Golf Club Union Tewksbury 202 Newark Int’l Galloping Hill Park Airport & Golf Course 278 Watchung 82 Reservations Echo Bedminster Lake Stirling 22 Park Township
New Jersey Liberty 28 Elizabeth National Golf Club Cranford Trump National Corner Passaic River Golf Club Country Park 78 78 Lebanon Watchung Warren Plainfield 31 Rahway 278 Bridgewater River 27 95 Round Valley Whitehouse Park Recreation Area 22 University Medical 22 Rahway Center at Princeton Green Knoll Golf Course 202 28 Plainfield Washington Country Club Valley Park 9 Bridgewater 35 Raritan Valley Commons South Country Club 278 Plainfield 1 Somerville 22 Carteret Middlesex Raritan 28 Deer Path Park Woodbridge 95 440 278 Township Branchburg 27 18 Staten 31 202 Metuchen Island Manville Piscataway Bakelite 1 FIRST STREET Park Township Neshanic Valley Golf Course 440 LWDD L-4 Canal 206 Edison
Flemington Johnson Perth Spooky Brook Park FIRST STREET Golf Course Amboy Rutgers Univ. - College Ave Millstone Somerset Campus LWDD L-4 Canal
New NEW YORK Brunswick South Rutgers 18 University Amboy Heron Glen Douglass NEW JERSEY Golf Course Six Mile Run Campus Belle Park Mead 35 202 Sayreville North Brunswick Township Cheesequake Sourland Mountain Franklin 1 State Park Park 36 Skillman Bunker Hill 95 East Keyport Ringoes Montgomery Park Brunswick 206 18 9 Tamarack Old Bridge 35 Golf Course Township Matawan
Princeton Airport
31 Holmdel Tatum Jamesburg Park St. Michael’s Park Farm Preserve South 34 27 1 Brunswick 79 Township Holmdel Park
Princeton Carnegie 18 Lake Plainsboro Forsgate Princeton Preserve Monroe University Country Club Princeton 9 31 University Forrestal Campus Township Marlboro Township 206
Big Brook Park Thompson Park
79 EXTENSIVE TRANSPORTATION NETWORK New Brunswick’s well-established transportation network pro - vides residents with superb access to the major employment centers in the northeast including New York City and Northern New Jersey, all in less than one hour. With NJT/Amtrak com - muter rail and Coach USA/NJT bus lines both within walking distance of the Properties, as well as access to Interstate-95, Interstate-287 and the Garden State Parkway within minutes by car, residents can access destinations near and far with ease.
BLUE-CHIP EMPLOYERS ABOUND New Brunswick is home to the world headquarters of Johnson & Johnson and is also located near the blue-chip employers of Pru - dential, UPS, Colgate-Palmolive, BASF and Ericsson. Bristol-Myers High Point Solutions Stadium Squibb employs over 1,500 people in New Brunswick and major healthcare employers in the City include Robert Wood Johnson Uni - versity Hospital and the St. Peters Healthcare System. The Raritan Center Business Park, less than 10 miles from the Properties, fea - tures a tenant roster including over 25 Fortune 500 companies and can be reached in approximately 15 minutes. Further, residents of the Property have access to the major employers found in New York City, which is accessible in less than one hour via NJ Transit.
STRONG APARTMENT FUNDAMENTALS Approximately 76.3% of New Brunswick residents rent rather than own their housing, compared to the Middlesex County average of only 33.6%. This is largely due to the dearth of single family and condo options available to professionals in the dense urban envi - ronment of downtown New Brunswick and the transient nature of the education based community in the immediate vicinity of the Properties. As a result, the submarket had a vacancy rate of just Downtown New Brunswick 2.0% as of year-end 2014.
Robert Wood Johnson University Hospital View of Skyline Tower from Train Station
Mark A. Delillo, Managing Partner Jeffrey D. Bastow, Managing Director [email protected] • 212.381.7606 [email protected] • 212.381.7601
1450 Broadway, 30th Floor, New York, New York 10018 • Tel: 212.381.7612 • Fax: 917.591.9696